Pulse Biosciences Inc SEC Filings

Pulse Biosciences announced publication of early clinical data from a first-in-human, single-arm feasibility study of its CellFX nsPFA Percutaneous Electrode System to treat benign thyroid nodules. The study, conducted at a single center in Naples, Italy, used ultrasound-guided ablation for tissue-response assessments and therapeutic intent. Follow-up ultrasounds showed no intranodular fibrosis or scarring. Fully treated nodules had an average 86% reduction in size at one year, with individual reductions up to 93%, and patients experienced symptom relief with reductions greater than 48% as early as two weeks. The company attached the related press release as an exhibit.

Richard van den Broek, a director of Pulse Biosciences, was granted a stock option on 08/15/2025 to purchase 30,000 shares of common stock at an exercise price of $16.16 per share. The option becomes exercisable beginning 08/15/2025 and expires 08/15/2035. The shares subject to the option vest in equal monthly installments over one year, with the first installment on 09/15/2025, contingent on continued service.

Mahkam Zanganeh, a director of Pulse Biosciences (PLSE), reported receipt of two stock option grants on 08/15/2025 totaling 54,134 options. Both options have an exercise price of $16.16 and expire on 08/15/2035. The first option covers 30,000 shares and vests in equal monthly installments over one year beginning 09/15/2025. The second covers 24,134 shares and vests in equal quarterly installments over one year beginning 09/05/2025. Ownership after the transactions is reported as 30,000 and 24,134 shares respectively, held directly.

Pulse Biosciences director and 10% owner Robert W. Duggan received two stock option grants on 08/15/2025 totaling 50,792 options to buy common stock at an exercise price of $16.16 per share. One option for 30,000 shares vests monthly over one year beginning 09/15/2025. The second option for 20,792 shares vests quarterly over one year beginning 09/05/2025. Both options expire 08/15/2035. The Form 4 was filed as a single reporting person filing and signed by an attorney-in-fact on 08/19/2025.

Pulse Biosciences director Manmeet Singh was granted a stock option covering 30,000 shares of common stock with an exercise price of $16.16. The option was issued on 08/15/2025, is exercisable through 08/15/2035 and covers 30,000 underlying shares.

The option will vest in equal monthly installments over a one-year period, contingent on the reporting person’s continued service, with the first vesting installment occurring on September 15, 2025. The reporting person holds the option directly.

Pulse Biosciences (PLSE) reported no revenue and continues to operate at a loss while advancing its Nano-pulse Stimulation (NPS) product pipeline. Cash and cash equivalents were $106.3 million at June 30, 2025, with total assets of $120.3 million and stockholders' equity of $104.5 million. The company recorded a net loss of $19.2 million for the three months ended June 30, 2025 and $36.0 million for the six months ended June 30, 2025. Operating cash used totaled $26.3 million for the six-month period and stock-based compensation expense was $10.9 million for the same period. The company has an accumulated deficit of $426.5 million and reports no material cash flows from operations.

The company completed a $60.0 million rights offering in July 2024 (majority purchased by Robert Duggan) and has received $63.5 million in cumulative gross proceeds from exercises of related warrants including $14.1 million during the six months ended June 30, 2025. Regulatory and clinical milestones include FDA 510(k) clearances for the nsPFA Percutaneous Electrode System (initial and a second needle size), placement of CellFX at nine U.S. sites with over 140 patient treatments to date, Breakthrough Device designation and TAP enrollment for the cardiac surgical clamp, and active IDE interactions and planned pivotal U.S. trials for cardiac devices.

Pulse Biosciences, Inc. furnished a Form 8-K to report that it announced financial and operational results for the fiscal quarter ended June 30, 2025. The company stated that a press release containing those results is attached as Exhibit 99.1 and is incorporated by reference. The filing clarifies that the information and the exhibit are being furnished and are not to be deemed "filed" under the Exchange Act for purposes of Section 18, nor incorporated by reference in other filings except by specific reference. No numerical financial metrics or narrative detail from the press release are included in this Form 8-K.